Standby Letter of Credit, AVP

Mitsubishi UFJ Financial Group•Tampa, FL

1d•Hybrid

About The Position

This role is responsible for supporting the daily back-office operations of the Standby L/C Section and other Trade Finance Products. The incumbent will monitor and ensure timely issuance of Standby L/Cs and amendments, accurate processing of transactions, and proper booking of liabilities and fees. They will also ensure accountability for all commissions, enforce operational procedures and controls, and assist the department in achieving its goals. The position involves workflow management, verification, quality control, customer service, staff and performance management, compliance with policies and procedures, special projects, and providing operational/technical support. Key responsibilities include managing queues in the Trade 360 System, acting as a system liaison for T-360 and related systems, monitoring and reporting on outstanding items, responding to audit inquiries, and serving as a Business Continuity Key Staff Member. The role requires reviewing L/C and amendment queues, verifying and releasing L/Cs, amendments, drawings, payments, and fee invoices, and ensuring compliance with LC terms and internal procedures. Additionally, the incumbent will provide technical and system support, respond to inquiries, identify and correct inefficiencies, and update procedures. Staff management includes supervising workflow, assessing performance, providing training, and reporting on staff issues. Compliance involves enforcing bank policies, regulations (OFAC/BSA/AML/JFEL/Anti-boycott), and internal procedures. Special projects may include investigations and reports to support management goals.

Requirements

Undergraduate Degree.
5-10 years of banking experience.
2-3 years of Standby LC operations experience.
Knowledge and experience in processing of SBLCs and billing/fee invoices required.
Sound knowledge of UCP, ISP, URDG and ISBP.
Ability to support and provide teamwork with focus on quality and prompt customer service.
Strong inter-personal skills, verbal and written communication skills.
Ability to work in an automated system environment required.

Nice To Haves

Certificate or courses or any specialized training/exposure in International Trade, Trade and Commodity and Supply Chain Financing is a plus.
Experience in SBLC draft reviews and technical support is a plus.
Knowledge and experience of transaction processing in T-360 System, GPP, BESS and Hotscan Systems is a plus.
Experience and background in Commodity Financing and Project Finance is a plus.

Responsibilities

Monitor and ensure issuance of Standby L/Cs and amendments in a timely manner.
Ensure accurate processing of transactions and proper booking of liabilities and fees in Trade 360 System.
Ensure accountability of all commissions, in accordance with the instructions from front/middle offices and Standard Operating procedures.
Enforcement of all operational procedures and controls.
Workflow Management: Monitor the daily operations of the Standby L/C Section and workflow supervision.
Ensure output satisfies corresponding process requirements and priorities.
Reconcile and account for all incoming items/work and ‘processed output’ in accordance with established procedures and controls.
Maintain and oversee overdue and/or delinquent transactions, section’s output reports, pending items, records and files.
Responsible for accurate LC liability and commission postings.
Provide timely support to new business initiatives of front offices particularly, commodity financing deals and ACB customers.
Coordinate and ensure all Fronting LCs and Commodity Financing LCs are executed properly and promptly.
Verification: Review L/C and Amendment Queues in Trade 360 System and ensuring that all L/C’s are issued and amendments are processed and releases as requested.
Verify and release L/Cs, amendments, drawings, payments, LC fee, bills and sign negotiable instruments in timely manner in accordance with the authorization limits established by the Executive Management.
Ensure all default, principal and interest draws are in compliance with the LC terms and conditions and comply with the internal procedures and compliance requirements.
Quality Control and Customer Service: Provide technical and System support and guidance to staff members, Account Officers, Middle Office, all US branches and Customers on Standby LCs.
Respond to inquiries received from customers, front/middle offices, internal auditors and correspondent banks, providing the accurate and timely information in resolution of such queries.
Identify discrepancies and/or inefficiencies in customer support efforts and ensure that they are corrected, documented and implemented.
Assist the Manager (or the Management) in identifying risk areas and implement/monitor practices to reduce and/or prevent risk opportunities.
Update procedures as and when changes to workflow process, system enhancements and internal controls are effected.
Conduct quality control meetings to enhance customer service and customer first initiative.
Staff and Performance Management: Supervise workflow assignment s and ensure the work is processed in timely manner.
Discuss and assess team members’ performance and production and escalate any issues to the Management.
Provide system training where required and ensue team is equipped with the necessary knowledge and skills.
Timely reporting to Management on staff performance issues, productivity and incidents.
Compliance: Enforce bank’s compliance policies and procedures.
Ensure implementation of all compliance regulations including OFAC/BSA/AML/JFEL//Anti-boycott regulations in the Section’s operations.
Ensure the Staff receives proper training. in all regulatory and bank compliance issues.
Enforce applicable internal policies and procedures including HO as related to Trade Finance products and operations.
Special projects: Handle Special investigations, reports and assignments to support department Management’s goal.
Ensure all queue verifications in Trade 360 System are performed and appropriate actions are taken.
Key System Liaison and responsible for all T-360 System related issues/UAT and interface related to OVS and Hotscan Systems.
Responsible for customized BO reports and System related investigations including GL breaks.
Monitor WIP/Suspense and AR accounts and Report to Management on overdue and unusual entries/differences and coordinate with respective Unit Managers in quick resolution.
Respond Audit and Comptrollers inquiries and investigations.
Liaison responsibilities for SOX certifications, procedures and audits.
Designated as a Business Continuity Key Staff Member in case of continuity issue.